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  • EMED Mining: Rio Tinto Timetable Publicly Affirmed 0 comments
    Jul 3, 2013 12:22 PM

    EMED Mining (LON:EMED) (TSE:EMD) said its timetable for theRio Tinto mine restart has been publicly affirmed by the Andalucian minister for industry.

    In a quarterly operational update EMED also restated that it anticipates the start of copper production next year.

    "Along with the regulatory authorities of the Andalucian Government we are focussed on triggering project works at the Cerro Colorado open pit of the Rio Tinto copper mine around the end of 2013 and production in late 2014," said chief executive Harry Anagnostaras-Adams.

    "We are pleased to report public affirmation of this timetable by the Andalucian Minister for Industry, Mr Antonio Avila, who recently in a press conference confirmed EMED Mining´s forecast calendar for achieving later this year the key permits required to trigger site start-up works."

    EMED expects site works to start towards the end of this year with initial production coming in 2014 before ramping up to an initial 37,000 tonnes of concentrate by the end of 2015.

    Once the regulatory approvals have been granted EMED can also pursue exploration efforts, and it recently secured additional exploration ground near the Rio Tinto mine.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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